NEW DELHI: Finance Minister Nirmala Sitharaman on Friday welcomed the Reserve Bank of India’s (RBI’s) steps aimed at helping companies and individuals borrow at cheaper rates, improving non-banking finance companies’ (NBFCs’) access to low-cost funds besides assisting banks, companies and real estate firms with reclassification of norms on bad assets. “In view of the difficulties being faced due to #COVID19, the @RBI has taken a slew of steps aimed at maintaining adequate liquidity in the system, incentivising bank credit flows, easing financial stress, and enabling the normal functioning of markets," Sitharaman tweeted.
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